Thank You Sheikh Mansour - City to remain debt free

51BLU · 23 Jul 2009, 06:48 AM

The hundreds of millions spent by us on transfer fees and additional wages this summer will not place any burden on City.

Instead, the money will come straight from the pockets of Sheikh Mansour. The normal practice for billionaire owners bankrolling Premier League clubs is a soft loan, which sees the owner effectively lend his own club money, and is counted on the club's balance sheet. The Guardian reported yesterday that the Sheikh is providing the club its entire summer spending as a gift.

http://www.guardian.co.uk/sport/2009...man-abramovich

The distinction could be key if we achieve our aim of qualifying for the Uefa Champions League in coming seasons. Platini remains keen on bringing in measures to stop clubs with large debts from competing in its flagship competition.

Even if this does not come to pass, It's still a nice position to be in.

thejuggernaut · 28 Jul 2009, 10:54 AM

Quote:

Originally Posted by 51BLU

The hundreds of millions spent by us on transfer fees and additional wages this summer will not place any burden on City.

Instead, the money will come straight from the pockets of Sheikh Mansour. The normal practice for billionaire owners bankrolling Premier League clubs is a soft loan, which sees the owner effectively lend his own club money, and is counted on the club's balance sheet. The Guardian reported yesterday that the Sheikh is providing the club its entire summer spending as a gift.

http://www.guardian.co.uk/sport/2009...man-abramovich

The distinction could be key if we achieve our aim of qualifying for the Uefa Champions League in coming seasons. Platini remains keen on bringing in measures to stop clubs with large debts from competing in its flagship competition.

Even if this does not come to pass, It's still a nice position to be in.

If three dollars a gallon for gas means Kolo Toure... well raise my rent while your at it!